AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 93.96000 will continue.
Caution: A possible counter-trend in the direction of resistance at 94.55700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Matching Low’ candle chart pattern is found. The chart shows ‘Matching Low’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.64000 |
| 2nd High | 94.88600 |
| Next High | 94.55700 |
| Current Price | 94.41300 |
| Next Low | 93.96000 |
| 2nd Low | 93.94200 |
| 3rd Low | 93.85700 |
94.55700 – 94.88600 – 94.54200 – 93.96000 – 94.22600 – 93.98900
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low –